VALLIE: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
VALLIE
Largest movements
- Tangible fixed assets -€15,606
down €15,606 (-6.5%), from €241,070 to €225,464
of which Leasing and similar rights: -€9,362
- Cash +€9,508
up €9,508 (+2757.2%), from €345 to €9,853
mainly Net result for the year (+€66,693) and Depreciation (+€15,606)
- Debts after one year -€68,056
down €68,056 (-14.0%), from €485,556 to €417,500
- Reserves +€66,693
up €66,693 (+84.2%), from €79,181 to €145,874
- Tax, wage and social debts -€16,784
down €16,784 (-79.0%), from €21,253 to €4,469
of which Taxes: -€14,784
- Current portion of long-term debt -€9,975
down €9,975 (-12.8%), from €78,031 to €68,056
- Trade debts +€8,779
up €8,779 (+598.8%), from €1,466 to €10,245
- Gross operating margin +€46,436
up €46,436 (+48.9%), from €94,879 to €141,315
- Taxes +€15,357
up €15,357 (+95.9%), from €16,013 to €31,370
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €853,404 | €841,331 | -€12,073 | -1.4% |
| Fixed assets | 21/28 | €835,262 | €819,656 | -€15,606 | -1.9% |
| Tangible fixed assets | 22/27 | €241,070 | €225,464 | -€15,606 | -6.5% |
| Land and buildings | 22 | €219,050 | €213,899 | -€5,151 | -2.4% |
| Furniture and vehicles | 24 | €2,003 | €910 | -€1,093 | -54.6% |
| Leasing and similar rights | 25 | €20,017 | €10,655 | -€9,362 | -46.8% |
| Financial fixed assets | 28 | €594,192 | €594,192 | = | 0.0% |
| Current assets | 29/58 | €18,142 | €21,675 | +€3,533 | +19.5% |
| Amounts receivable within one year | 40/41 | €16,335 | €10,205 | -€6,130 | -37.5% |
| Trade receivables | 40 | €16,335 | €9,075 | -€7,260 | -44.4% |
| Other amounts receivable | 41 | - | €1,130 | +€1,130 | |
| Cash at bank and in hand | 54/58 | €345 | €9,853 | +€9,508 | +2757.2% |
| Deferred charges and accrued income | 490/1 | €1,462 | €1,617 | +€155 | +10.6% |
| Total equity and liabilities | 10/49 | €853,404 | €841,331 | -€12,073 | -1.4% |
| Equity | 10/15 | €129,181 | €195,874 | +€66,693 | +51.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €79,181 | €145,874 | +€66,693 | +84.2% |
| Distributable reserves | 133 | €79,181 | €145,874 | +€66,693 | +84.2% |
| Amounts payable | 17/49 | €724,223 | €645,457 | -€78,766 | -10.9% |
| Amounts payable after more than one year | 17 | €485,556 | €417,500 | -€68,056 | -14.0% |
| Financial debts | 170/4 | €485,556 | €417,500 | -€68,056 | -14.0% |
| Amounts payable within one year | 42/48 | €230,608 | €217,769 | -€12,839 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €78,031 | €68,056 | -€9,975 | -12.8% |
| Trade debts | 44 | €1,466 | €10,245 | +€8,779 | +598.8% |
| Suppliers | 440/4 | €1,466 | €10,245 | +€8,779 | +598.8% |
| Taxes, remuneration and social security | 45 | €21,253 | €4,469 | -€16,784 | -79.0% |
| Taxes | 450/3 | €19,253 | €4,469 | -€14,784 | -76.8% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100.0% |
| Other amounts payable | 47/48 | €129,859 | €134,999 | +€5,141 | +4.0% |
| Accrued charges and deferred income | 492/3 | €8,058 | €10,187 | +€2,129 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,606 | €15,606 | = | 0.0% |
| Other operating charges | 640/8 | €3,817 | €2,997 | -€820 | -21.5% |
| Gross operating margin | 9900 | €94,879 | €141,315 | +€46,436 | +48.9% |
| Operating profit (loss) | 9901 | €75,456 | €122,712 | +€47,256 | +62.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €23,432 | €24,649 | +€1,216 | +5.2% |
| Recurring financial charges | 65 | €23,432 | €24,649 | +€1,216 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €52,024 | €98,063 | +€46,039 | +88.5% |
| Income taxes | 67/77 | €16,013 | €31,370 | +€15,357 | +95.9% |
| Profit (loss) for the period | 9904 | €36,011 | €66,693 | +€30,682 | +85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,011 | €66,693 | +€30,682 | +85.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.